not in the u.s. it requires a company focused on daily deals to have a huge sales force and then incredibly dense amount of offers within a locale so that the offers you receive in your e-mails don't seem completely irrelevant. that offer density is something that is very hard for a second or third or 50th player in the space to put forth. that's why living social is cutting back trying to focus on things that are profitable. if you're the biggest which groupon is by a long shot still, they can make it work. it's not perhaps being run optimally today and i'm sure they'll try to make that change over the course of the next year, but that offer density they have it and they have the sales force and they're not shrinking in the u.s. outside of the u.s. it doesn't seem to be working. >> i'm trying to count the number of companies you have seen start up and go public and you name it. if being first and being biggest isn't enough, does that change the way startups have to think from now on? >> i think this